Singapore legislation

Regulation 15

of Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Regulations 2019

Regulation 15

New technologies

A regulated dealer must, before launching a new product or a new business practice (including a new delivery mechanism) or using a new or developing technology for any new or existing product —

(a)

identify and assess the risks of money laundering, terrorism financing and proliferation financing that may arise in relation to the product, business practice or technology; and

(b)

take appropriate measures to manage and mitigate such risks.

Read in full context — Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Regulations 2019 →